Summary by Futu AI
Bank of America has announced the pricing of its Contingent Income Issuer Callable Yield Notes, linked to the performance of the Nasdaq-100 Index, the Russell 2000 Index, and the S&P 500 Index, due June 30, 2026. The notes, priced on September 25, 2024, will be issued on September 30, 2024, with an approximate 21-month term, unless called prior to maturity. Payments on the notes are contingent on the performance of the individual indices and will provide a 7.15% per annum coupon rate payable monthly, provided certain conditions are met. The notes are callable monthly beginning December 31, 2024, at Bank of America's discretion. If the least performing underlying index declines by more than 30% from its starting value, investors' principal is at risk at maturity. The notes are not FDIC insured, not bank guaranteed, and may lose value. They will not be listed on any securities exchange. The initial estimated value of the notes is less than the public offering price.